Alabama § 27-15-16 Annuity and Pure Endowment Contract Provisions - Generally

Alabama Statutes

§ 27-15-16 — Annuity and Pure Endowment Contract Provisions - Generally

Alabama·Title 27 Insurance·Ch. 15 Life Insurance and Annuity Contracts·Art. 1 General Provisions

(a)No annuity or pure endowment contract, other than reversionary annuities, survivorship annuities, or group annuities and except as stated in this section, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions specified in Sections 27-15-17 through 27-15-22. Any of such provisions not applicable to single premium annuities or single premium pure endowment contracts shall not, to that extent, be incorporated therein.

(b)This section shall not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies.

Free access — add to your briefcase to read the full text and ask questions with AI

(a) No annuity or pure endowment contract, other than reversionary annuities, survivorship annuities, or group annuities and except as stated in this section, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions specified in Sections 27-15-17 through 27-15-22. Any of such provisions not applicable to single premium annuities or single premium pure endowment contracts shall not, to that extent, be incorporated therein.
(b) This section shall not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies.

Alabama § 27-15-16 (Annuity and Pure Endowment Contract Provisions - Generally) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.